Du Shuanghua is the chairman of Rizhao Steel Holding Group. He is a philanthropist and a supporter of youth. Also, 57-year-old Du is a resident of Heshgui, China.
The industry is one of the largest private steel manufacturers in China. Moreover, it is located in the Lanshan District of Rizhao City. The company is bordered by National Highway 204 and the Tongjiang-Sanya Expressway to the west. In addition, the company is located five kilometers south of Lanshan port and 35 kilometers north of Rizhao port.
Rizhao was founded in 2003 and was built in 181 days until operations began. Many are praising the new business that has come to the screen in nine years. However, six years after its inception, Du Shuanghua sold 67 percent of its ownership to Shandong Steel. In 2007 Rizhao Steel and Mount Gibson signed a 15-year agreement in which Rizhao was to buy 1.5 million tons of steel ore from Mount Gibson each year. He sold 33% of Rizhao to Shandong in 2010.
During Du Shuanghua, the state-owned Shandong Iron and Steel Group Co., Ltd. became the seventh-largest steel producer in the country through the reorganization of the Xenon Iron and Steel Group Company and the Live Steel Group Shandong Metallurgical Industry Corporation.
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Rizhao plans to spend 33 billion RMB on expansion in 2020. The expansion will help the company achieve a 17 million tonnes per annum steel production capacity. According to the management team, the project will be completed by 2022.
In addition, Rizhao bought a 54% stake, while Minmetals Yingkou gave the company 100% ownership of the business. On the other hand, Shandong Iron and Steel has a registered capital of 10 billion yuan ($ 1.4 billion) and is wholly state-owned. Also, it is a Chinese-owned company based in Xinan. In 2015, Du Shuanghua became the 12th largest steel producer globally, with steel production of 21.7 million tonnes.